Forms 40, 40s, And Instructions; Schedule Wfc And Instructions - 2006 Page 16
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31Form 40 line instructions
The following instructions are for lines not fully
• Federal deduction for long-term care insurance pre-
miums [code 104]. Will you claim an Oregon long-
explained on the form. For general Form 40 instruc-
term care insurance premiums credit this year? Did
tions, see page 7.
you claim a federal deduction on federal Schedule
Amended return. If you are amending your 2006
A for the premiums? If so, you must add to Oregon
return, check the box in the upper left corner of Form
income the amount of premiums that resulted in a
40 and attach the Oregon Amended Schedule.
tax benefit on your federal return. Download the
publication Long-Term Care Insurance Premiums Tax
Do not fill in cents. You must round off cents to the
Credit from our website or contact us to order it.
nearest dollar. For example, $99.49 becomes $99.00, and
$99.50 becomes $100.00.
• Federal election on interest and dividends of a minor
child [code 107]. Did you report interest or dividends
Federal adjusted gross income. Enter your fed-
8
of your minor child on your federal return? If so, you
eral adjusted gross income from Form 1040,
must add to Oregon income the amount subject to
line 37; Form 1040A, line 21; Form 1040EZ, line 4; Form
the special federal tax. Fill in the smaller of line 13
1040NR, line 35; or Form 1040NR-EZ, line 10. You must
or 14 from federal Form 8814. Add to that any inter-
attach a copy (front and back) of your federal return
est or dividends your child received from state and
to your Oregon Form 40. This helps us verify your
local governments outside Oregon.
income and process your return faster.
• Federal income tax refunds [code 109]. Did you
get a federal tax refund in 2006 because you filed
Additions
an amended federal return for a prior year or were
Generally, additions are items not taxed by the federal
audited? If so, you must add the refund amount that
gave you an Oregon tax benefit in a prior year. You
government, but taxed by Oregon. Additions increase
received an Oregon tax benefit if the amount of the
the income taxed by Oregon.
refund was claimed as part of your federal tax sub-
Interest and dividends on state and local gov-
9
traction on your Oregon return for the prior year.
ernment bonds outside of Oregon. You must
• Gambling losses claimed as an itemized deduction
add to Oregon income any interest and dividends you
[code 105]. Did you claim gambling losses as an
received from state and local governments outside
itemized deduction on your federal Schedule A? If
Oregon. You don’t pay federal tax on this interest, but
so, you must add the gambling losses claimed as an
you do pay Oregon tax.
itemized deduction that are more than the gambling
Example: Include interest from state of Washing-
winnings taxed by Oregon. For more information,
ton bonds or from San Francisco city bonds. Do not
see Oregon Lottery on page 27.
include interest from Oregon government bonds or
• Lump-sum payment from a qualified retirement
interest from U.S. territories or possessions (such as
plan [code 115]. Did you complete federal Form 4972
Guam, Puerto Rico, or the Virgin Islands).
to figure the tax on a qualified lump-sum distribu-
Other additions. You may need to report one
10
tion using the 20 percent capital gain election and/
or more other additions explained here. Please
or the 10-year tax option? If so, part or all of your
identify the addition(s) using the numeric code shown
lump-sum distribution will not be included in your
in brackets. Enter the code on line 10a and the amount
federal adjusted gross income (AGI). The taxable
on line 10b. For example, if you’re reporting a $200 addi-
amount of your distribution (federal Form 1099-R,
tion for claim of right, enter “103” on line 10a and “$200”
box 2a) that isn’t included in your federal AGI is tax-
on line 10b. If you’re reporting two additions, enter the
able to Oregon. Fill in the excluded amount on line
second numeric code on line 10c and the amount on
10 of your Oregon Form 40. Attach a copy of federal
line 10d. Fill in the total amount of all “other additions”
Form 1099-R to your Oregon return along with your
on line 10. If you’re claiming more than three “other
Form(s) W-2 and other Form(s) 1099. For more infor-
additions,” attach a statement to your return with the
mation, please contact us.
numeric codes and amounts of the additions that don’t
• The following additions apply to only a few people
fit on the return. Add lines 10b, 10d, 10f, and the addi-
and are not explained in this booklet. For more infor-
tion amounts on the statement and enter the total on
mation, go to our website or contact us.
line 10. Number the statement. On line 11 (total addi-
— 529 Oregon College Savings Network plan non-
tions), write “See Stmt” and the statement number in
qualified withdrawal [code 117].
the space next to the total additions. Example: Write
— Basis adjustments [code 101].
“See Stmt 3” for statement number 3.
24
Form 40 line instructions
Have questions? Need forms? See page 40.
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